Kukla's Korner Hockey

We Can’t tell you whether this is a case of hide-and-seek, but Slap Shots has learned from several sources that after exercising its right for the first time to audit select NHL clubs, the NHLPA believes it has discovered unreported revenues from last season.

This, in addition to a dispute over whether the $25 million Glendale, Ariz., paid the NHL to keep the Coyotes from absconding to Winnipeg should be considered hockey-related revenue, is what is holding up issuance of the escrow refunds to the players and checks to the owners who qualify for the second round of 2010-11 revenue sharing.

We’re told Washington and Nashville are among at least a handful of clubs that have been cited for failure to declare hockey-related revenue, with the matter now more likely than not to be decided in arbitration.

Comments

The Caps are well-known to use Hollywood accounting when reporting arena revenue, since Leonsis’ holdings company owns the lease on the Verizon and they are the ones who have an agreement with the Capitals that prevents them from claiming more revenue.

His arena company is charging his hockey company for use of the arena. The money still ends up in Leonsis’ pockets.

* Finally, we see Mike Keenan has agreed to coach the Rangers’ alumni in the Dec. 31 outdoor game in Philadelphia, but then why is Iron Mike calling Detroit to see if the Wings’ old-timers need a general manager?

Don’t get me wrong, I think that is ridiculous, but as long as the money made by the arena company isn’t fed back into the company that owns the Caps, seems like it’d be hard to consider that non-reported HRR.